Diodes Incorporated Updates Fourth Quarter Guidance and Repurchases $46.5 million of its $230 Million Convertible Senior Notes
Diodes Incorporated (Nasdaq: DIOD), a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete and analog semiconductor markets, today announced its updated guidance for the fourth quarter of 2008 and the repurchase of $46.5 million of its $230 million 2.25% Convertible Senior Notes due 2026 for approximately $23.2 million in cash.
Commenting on the updated guidance, Dr. Keh-Shew Lu, President and CEO of Diodes Incorporated, said, “With the continued global economic weakness and decreased demand, Diodes has updated its fourth quarter revenue to be in the range of $88 million to $93 million. In addition to the previously announced cost savings initiatives and due to the continued economic decline, we have begun to initiate additional headcount reductions in our international operations in order to reduce our cost base even further.
- Published: 11 December 2008
- Written by Editor